Study Loan Singapore

Hello Buddy , I want to know What are the Required Interest Rate of Education Loan of May Bank for Study in Singapore , Would you plzz Give ,me Details about same ?

[Raman Vij]

Friend Have a Look On your Demanding Here Providing Details about Education Loan of May Bank for Study in Singapore

Benefits

Available for local and overseas studies

Attractive interest rate from 4.78% p.a

Low processing fee of 2% on loan amount applies.

Loan of up to 8X your monthly income, or S$200,000, whichever is lower

Flexible repayment period of up to 8 years (10 years for overseas studies)

Choice of repayment schemes available to suit your needs

Fee waiver for up to 3 Cashier's Orders or Demand Drafts for payment of your tuition fees

Types of Repayment Schemes available

Interest Servicing Scheme
Pay only interest, for up to 3 years or till the end of your course, whichever is earlier. Standard monthly instalments (principal + interest), will commence thereafter.
Partial Repayment Scheme
Pay partial instalments for up to 3 years or till the end of your course, whichever is earlier. Standard monthly instalments (principal + interest), will commence thereafter
Standard Repayment Scheme
Pay your monthly instalments (principal + interest), once your loan is disbursed.


Eligibility

Main Applicant/Student must be:
Singapore Citizen or Singapore Permanent Resident
Minimum 18, maximum 65 years of age upon loan maturity
Minimum income of S$18,000 p.a. (required for loan for local part-time studies only) - guarantor required

Guarantor(s) must be:
Singapore Citizen or Singapore Permanent Resident
Minimum 21, maximum 65 years of age upon loan maturity
Minimum income of S$30,000 p.a

Documents required

NRIC (front and back) of student/main applicant/guarantor(s)
Income documents of Main Applicant/Guarantor(s).

For salaried applicants
Latest computerized pay slip or
Latest Income Tax Notice of Assessment or
Past 6 months' CPF Statement of Account

For self-employed/commission-based earners
Last 2 years' Income Tax Notice of Assessment
Acceptance letter from school, stating type and duration of course
Proof of relationship between student and main/joint applicant or guarantor